Pitch: US-based startup cultivating duckweed, an extremely fast-reproducing source of protein requiring very few resources to grow.

Source: Plantible

ID card

• HQ: USA
• Founded: 2018, by two Dutch people (research on duckweed is especially strong at Wageningen, the renowned agrifood university)
• Funding: $56M
• Last Funding: $30M series B (11/24) + undisclosed round (1/25)
• Corporate investors: Chipotle
• Partnerships: Chipotle, ICL
• Innovations: process of cultivation on controlled farms, extraction process
• Competitors: limited

More insights

• Duckweed interests lie in its speed of reproduction: x6 times soy. It is also a complete protein which requires very little water to grow.
• Multiple products:
  • Rubi Protein
  • Egg alternative for binding and foaming
  • A binder for plant-based meat
• Duckweed was recently authorised in the EU with the help of WUR (but Rubi has yet to receive a GRAS (asked last month) and a Novel Food)
• Plantible is developing a large facility in Texas and says it has multiple clients which it will start working with by the end of 2025.

For Symrise

Why did we select the startup? Plantible is quite unique in its space of duckweed (many players play with algae, but with little success). Even if the startup claims that its ingredient is without taste or colour, it probably needs support to:

• Find clients;
• Develop relevant, tasty formulations.

Symrise could be a great partners on both areas.

Why now? The combination the recent cash injection, the partnership with Chipotle in the US and the opening of the EU to duckweed. This makes this startups uniquely well-positioned to play a role as a provider of a new high-protein ingredient for alternatives.

Source: Plantible